Exam 17: Audit of Cash Balances

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A) Discuss the methodology for designing tests of details of balances for cash in the bank. B) An effective monthly bank reconciliation by client personnel includes nine procedures. List these nine bank reconciliation procedures. C) Discuss two analytical procedures commonly performed during the audit of the cash account.

(Essay)

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Question 61

A branch bank account is helpful for

(Multiple Choice)

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Question 62

A) Explain what is meant by a cutoff bank statement and discuss the purpose of the cutoff bank statement in the audit of cash. B) Explain the purpose of testing the client's bank reconciliation and discuss the major audit procedures involved.

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Question 63

Because cash is the most desirable asset for people to steal, it has a higher

(Multiple Choice)

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Question 64

The auditor has examined the financial statements, particularly the cash flow statement, and the notes to the financial statements to determine that all relevant information is presented clearly. Which audit assertion is associated with this audit test?

(Multiple Choice)

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Question 65

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A branch bank account is helpful for

A) Explain what is meant by a cutoff bank statement and discuss the purpose of the cutoff bank statement in the audit of cash. B) Explain the purpose of testing the client's bank reconciliation and discuss the major audit procedures involved.

Because cash is the most desirable asset for people to steal, it has a higher

The auditor has examined the financial statements, particularly the cash flow statement, and the notes to the financial statements to determine that all relevant information is presented clearly. Which audit assertion is associated with this audit test?

The Demand for Audit and Other Assurance Services

The Public Accounting Profession and Audit Quality

Legal Liability

Professional Judgment and Ethics

Audit Responsibilities and Objectives

Client Acceptance and Planning the Audit

Materiality and Risk

Internal Controls and Control Risk

Audit Evidence

Audit Strategy and Audit Program

Audit Sampling Concepts

Audit of the Revenue Cycle

Audit of the Acquisition and Payment Cycle

Audit of the Inventory and Distribution Cycle

Audit of the Human Resources and Payroll Cycle

Audit of the Capital Acquisition and Repayment Cycle

Completing the Audit

Audit Reports on Financial Statements

Other Assurance and Nonassurance Services

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